Official Liquidator Of Glodyne Technoserve Ltd. (In Liquidation) v. L And T Finance Ltd. (Petitioner)

speaking-16-OLR-49-2025.doc IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION OFFICIAL LIQUIDATOR'S REPORT NO. 49 OF 2025 TALLE SHUBHAM ASHOKRAO IN COMPANY PETITION NO. 179 OF 2013 TALLE SHUBHAM ASHOKRAO Date: 2025.08.08 18:31:10 +0530 In the matter of the Companies Act, I of 1956.

AND In the matter of Glodyne Technoserve Ltd ( In Liqn.);

L & T Finance Ltd.

... Petitioner ------ Ms. Akansha Agrawal Adv for Official Liquidator. Mr. Satyajit Roul, Official Liquidator present. Mr. V. G. Nipane Deputy Official Liquidator present. ------ Coram : Sharmila U. Deshmukh, J.

Date : July 24, 2025.

P. C. :

1.

The Official Liquidator Report seeks the following directions: "(a) In view of para 16 of this report, whether this Hon'ble Court would be pleased to peruse the said two

(2) offers and pass necessary order confirming the sale of said TOYOTO INNOVA-2.5V Registration No. MH-14BC-7674, car in favour of highest bidder and permit the Official Liquidator to handover the car to the highest bidder/auction purchaser on receipt of the sale proceeds or otherwise;

(b) If prayer (a) above is in negative, and in view of para 17 of this report, whether this Hon'ble Court would be pleased to permit the Official Liquidator to make one more attempt to invite the offers for TOYOTO INNOVA2.5V Registration No. MH-14-BC-7674, from second hand vehicle dealers by issuing individual notice to the This order is corrected as per Speaking to the minutes of the order dated 6th August, 2025. Shubham 1 of

speaking-16-OLR-49-2025.doc usual dealers instead of publication of sale notice. The Official Liquidator may also be permitted to put the offers received before this Hon'ble Court by filing report for confirmation of sale."

2.

Pursuant to previous orders passed by this Court the Official Liquidator invited bids from second hand dealers for the purchase of the vehicle Toyoto Innova-2.5V Registration No. MH-14-BC-7674. The bids were open in the Court. There were two bids one was for Rs. 10,000/- and other was for Rs. 16,000/-.

3.

Considering that the make of the car is of the year 2011 and the Official Liquidator had taken possession of the car in 2016, in my view, it is not possible to obtain higher valuation even if the same is re advertised. The cost of advertisement would also be prohibitive in respect of vehicle of the year 2011.

4.

In light of the above, prayer clause (a) is granted by confirming the sale in favour of the M/s. FD Enterprises who is the highest bidder. 5.

The Official Liquidator is directed to complete the formalities and hand over vehicle to the M/s. FD Enterprises upon receipt of the sale proceeds. OLR stands allowed in the above terms. The Official Liquidator is directed to return EMD amount to the unsuccessful bidder.

[Sharmila U. Deshmukh, J.] This order is corrected as per Speaking to the minutes of the order dated 6th August, 2025. Shubham 2 of